
If an article is sold for Rs.178 at a loss of 11%. What should be its selling price in order to earn a profit of 11%?
A. Rs.222.50
B. Rs.267
C. Rs.222
D. Rs.220
Answer
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Hint: First of all, find out the cost price of the article by using the given data and the formula . Then find out the selling with a profit of 11% by using the formula . So, use this concept to reach the solution of the given problem.
Complete step-by-step answer:
Given that the article is sold for Rs.178 at a loss of 11%.
So, selling price of article = Rs.178
Loss percent = 11%
We know that
So, cost price of the article
Now, we have to find the selling price of the article in order to get a profit of 11%
We know that,
So, selling price of the article to have profit of 11%
Hence, to gain a profit of 11% the selling price should be Rs.222
Thus, the correct option is C. Rs.222
Note: There is a loss whenever the cost price of the article is greater than the selling price of the article. And there is a profit whenever the selling price of the article is greater than the cost price of the article.
Complete step-by-step answer:
Given that the article is sold for Rs.178 at a loss of 11%.
So, selling price of article = Rs.178
Loss percent = 11%
We know that
So, cost price of the article
Now, we have to find the selling price of the article in order to get a profit of 11%
We know that,
So, selling price of the article to have profit of 11%
Hence, to gain a profit of 11% the selling price should be Rs.222
Thus, the correct option is C. Rs.222
Note: There is a loss whenever the cost price of the article is greater than the selling price of the article. And there is a profit whenever the selling price of the article is greater than the cost price of the article.
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